US Bancorp DE Raises Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

US Bancorp DE boosted its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 28.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,248 shares of the company’s stock after purchasing an additional 1,166 shares during the period. US Bancorp DE’s holdings in Phathom Pharmaceuticals were worth $95,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PHAT. Propel Bio Management LLC increased its holdings in shares of Phathom Pharmaceuticals by 96.4% in the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after buying an additional 426,880 shares during the period. Oracle Investment Management Inc. purchased a new position in Phathom Pharmaceuticals in the 2nd quarter worth approximately $2,318,000. Marshall Wace LLP purchased a new position in Phathom Pharmaceuticals in the 2nd quarter worth approximately $1,161,000. Vanguard Group Inc. lifted its position in Phathom Pharmaceuticals by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock valued at $21,018,000 after purchasing an additional 22,684 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Phathom Pharmaceuticals by 20.5% during the second quarter. Bank of New York Mellon Corp now owns 114,721 shares of the company’s stock valued at $1,182,000 after purchasing an additional 19,500 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Trading Down 3.4 %

Shares of Phathom Pharmaceuticals stock opened at $8.78 on Friday. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71. The company has a market cap of $600.38 million, a P/E ratio of -1.54 and a beta of 0.72. The company’s fifty day simple moving average is $16.58 and its two-hundred day simple moving average is $13.36.

Analysts Set New Price Targets

PHAT has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.